Insider Selling: Vuzix (NASDAQ:VUZI) Director Sells 32,000 Shares of Stock

Vuzix Corporation (NASDAQ:VUZI) Director Paula Beck Whitten-Doolin sold 32,000 shares of Vuzix stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $4.68, for a total value of $149,760.00. Following the completion of the transaction, the director owned 90,668 shares in the company, valued at $424,326.24. The trade was a 26.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Vuzix Trading Down 2.5%

Shares of NASDAQ VUZI traded down $0.12 during mid-day trading on Wednesday, reaching $4.73. The company had a trading volume of 2,582,214 shares, compared to its average volume of 1,435,245. The stock has a market cap of $393.34 million, a PE ratio of -11.82 and a beta of 1.52. The company has a 50-day moving average price of $2.80 and a two-hundred day moving average price of $2.82. Vuzix Corporation has a 1-year low of $1.83 and a 1-year high of $5.62.

Vuzix (NASDAQ:VUZI) last issued its earnings results on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $1.35 million. Vuzix had a negative return on equity of 116.50% and a negative net margin of 504.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in shares of Vuzix by 373.7% during the fourth quarter. State Street Corp now owns 7,226,194 shares of the company’s stock valued at $27,315,000 after buying an additional 5,700,613 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Vuzix by 4.2% during the third quarter. Vanguard Group Inc. now owns 3,631,584 shares of the company’s stock valued at $11,367,000 after buying an additional 147,811 shares in the last quarter. AIGH Capital Management LLC purchased a new position in shares of Vuzix during the first quarter valued at $7,613,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Vuzix by 71.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,032,366 shares of the company’s stock valued at $7,825,000 after buying an additional 848,142 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Vuzix by 278.1% in the first quarter. Millennium Management LLC now owns 1,911,972 shares of the company’s stock valued at $3,900,000 after purchasing an additional 1,406,234 shares in the last quarter. Hedge funds and other institutional investors own 35.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VUZI. Wall Street Zen upgraded Vuzix from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vuzix in a report on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Vuzix currently has a consensus rating of “Hold”.

About Vuzix

Vuzix Corporation (NASDAQ: VUZI) is a technology company specializing in the design, development and manufacture of wearable display devices and smart glasses. Headquartered in Rochester, New York, Vuzix focuses on next-generation augmented reality (AR) and virtual reality (VR) solutions that enable hands-free access to video, data and applications. Its products integrate high-resolution optics, onboard sensors and wireless connectivity to support immersive visual experiences for professional and consumer use.

Vuzix’s product portfolio includes smart glasses and head-mounted displays such as the Vuzix Blade series and the M400 family.